Slowing Chinese growth is hitting the U.S.'s Appalachian coal mines and towns hard, with the...

|By:, SA News Editor

Slowing Chinese growth is hitting the U.S.'s Appalachian coal mines and towns hard, with the slumping steel industry in China needing far less of Appalachia's high-grade metallurgical coal. The result is that a ton of thermal coal sells for $52 vs. $65-$75 to produce it. The affected companies include Patriot Coal (PCXCQ.PK), which filed for Chapter 11 in July, Alpha Natural Resources (ANR), Consol (CNX) and Arch Coal (ACI).